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The Automobile Association of South Africa says motorists should brace for more fuel price pain in October.
It said unaudited mid-month data from the Central Energy Fund is indicating an increase in the price of petrol of around R1.20 a litre and an increase to the wholesale price of diesel by as much as R2 a litre.
The Association said illuminating paraffin is also set for another increase with the data currently showing an under-recovery of R1.84 cents a litre.
“Should these significant increases materialise, they will push fuel prices to levels last seen in July last year, stretching the personal finances of South Africans even further”.
Higher fuel prices will invariably lead to higher prices at the till, which will be a blow to many who are already experiencing financial distress,” says the AA.
“According to the CEF’s data, the main driver behind the potential increases is higher international oil prices which have climbed substantially since August, mainly on the back of reduced output by major oil producing nations.’
The AA said although increases were now a certainty for October, the question will be how much fuel prices will ultimately rise.
